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S. Korea's foreign currency deposit rises for 3rd month in July

SEOUL
2023-08-25 11:13

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SEOUL, Aug. 25 (Xinhua) -- South Korea's foreign currency deposit rose for the third successive month due to solid demand for the U.S. and Japanese currencies, central bank data showed Friday.

The deposit, denominated in foreign currencies, came in at 105 billion U.S. dollars at the end of July, up 5.17 billion dollars from a month earlier, according to the Bank of Korea.

The continued growth came as some companies deposited the U.S. and Japanese funds raised from abroad.

The deposit, denominated in the U.S. dollar, gained 4.42 billion dollars from a month earlier to 87.86 billion dollars at the end of July, while the Japanese yen deposit added 0.83 billion dollars to 8.31 billion dollars.

The euro deposit shed 0.07 billion dollars to 6.02 billion dollars, and the Chinese yuan deposit declined 0.22 billion dollars to 1.38 billion dollars.

Foreign currency deposit, owned by companies, climbed 4.5 billion dollars to 89.68 billion dollars in the cited month.
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